Wall Street Journal
March 8, 2011
Two of the European Central Bank‘s top officials signaled Tuesday that the bank may raise interest rates faster than ECB President Jean-Claude Trichet suggested last week, reinforcing market expectations that a new cycle of rate increases is on the way.
Axel Weber, whose unofficial reign as leader of the hawkish faction on the ECB’s governing council ends when he leaves the German central bank at the end of next month, told the subscription TV service Deutsches Anleger-Fernsehen that:
“Hitherto, it has seldom been the case that the risks of inflation were banished completely with one small interest rate step. There will be a normalization of interest rates,” Weber said.
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